General ledgers can also be referred to as mainstream or foundational accounting records. They are the financial records that contain all the necessary information regarding a company's transactions. Some other synonyms for general ledgers include primary books of accounts, journal entries, accounting registers, and financial statements. These books of accounts are used to keep all financial data organized and up to date, and to ensure that all business transactions are recorded accurately. In essence, any financial record-keeping system is incomplete without a general ledger. So whether you call it a general ledger or any of the other synonyms, the importance of keeping accurate, complete, and orderly financial records cannot be overemphasized.